Business & Finance

EchoStar Communications Corp. offered a $32 billion stock-for-stock swap with Hughes Electronics Corp. in a last-ditch effort to prevent Hughes, the owner of DirecTV, from being taken over by News Corp. EchoStar, based in Littleton, Colo., had made a similar offer just weeks ago, but Hughes's corporate parent, General Motors Corp., declined the offer due to regulatory and antitrust concerns. DirecTV, with more than 10 million subscribers, is the nation's largest satellite service, while EchoStar's satellite service has nearly 6.1 million subscribers. GM's board reportedly will review the offer.

Belgium's Interbrew NV, the world's second largest brewer, agreed to pay $1.6 billion for the makers of Beck's, Germany's No. 1 export beer. Interbrew, whose flagship brand is Stella Artois, said the deal for 128-year-old Brauerei Beck GmbH & Co. would make it the No. 2 brewer in the premium lager market, behind Dutch company Heineken. Analysts said Interbrew would benefit by increasing exports to countries like the US, where sales of imported beers are high. Interbrew has doubled its size since 1995 by acquiring local brands in other countries.

Global Airlines Corp., a New York-based holding company, said it is offering to acquire US Airways Group in a cash-stock deal valued at $1.8 billion. Global Airlines made an unsuccessful bid for Trans World Airlines earlier this year. The move comes after US Airways and United Airlines ended a proposed $4.3 billion merger last month when the Justice Department said it would block the deal.